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Financial Briefing Book: Oct. 30-31

Oct. 29, 2010 5:20 p.m. ET

American Int'l Group AIA Soars 17% in Debut; Parent's Stake Is Now 33%

Shares of AIA Group Ltd., the pan-Asian life insurer floated by American International Group Inc., soared in their debut on Friday, enabling U.S.-controlled AIG to raise a total of $20.5 billion from selling two-thirds of the company.

AIA shares rose 17% on the Hong Kong Stock Exchange, giving the business a market valuation of around $36 billion. That exceeds the $35.5 billion sum that Prudential PLC originally agreed to pay for all of AIA earlier...